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Fly News Breaks for May 13, 2015
SHEN, NTLS
May 13, 2015 | 11:00 EDT
Drexel Hamilton said reports that Shenandoah Telecommunications (SHEN) is working on a $9.25 bid for NTELOS (NTLS) makes sense. The firm said Quadrangle has a large stake in NTELOS which it would like to exit, Shenandoah needs to leverage the cash flow it is generating, and NTELOS' wireless footprint would fit well. Drexel adds Shenandoah is a good network operator for Sprint (S), who would likely support a deal.
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